Journal Entry
Journal entry is a key control in the financial close that validates the accuracy of standard and non-standard entries to systems like your ERP, centralizing all comments, workflows, and support in one place. When creating audit-ready documentation of your financial close process, journal entries are often a missing piece.
Reduce Journal Entry Preparation Time
Mitigate Risk with Stronger Governance
Increase Visibility for Easier Audit
Standardize Journal Entries and Workflows
Bypass common issues found in manual approaches to deliver real-time visibility, control and validation of the status of all journal entries.
Manual Journal Entry Posting
The journal posting process is time-consuming, especially when relying on manual methods which inherently generate errors that further delay the entire posting process. Automate the scheduled posting of journal entries to greatly reduce effort and opportunity for error.
Ineffective Controls
When an organization has to manage thousands of journal entries a month, the process can quickly become tedious, risk-filled and complex. Create two-way communication between systems to strengthen governance and remove ambiguity that lengthens the close process.
Lack of Transparency
Visibility often becomes the biggest struggle facing journal entries as it frequently requires complex workflows for routing and approval prior to posting. Configure workflows to allow for the delivery of real-time transparency into the status of journal entries.
Journal Entry Solutions For Any Industry
The speed and success of the project came from being able to design new processes and policies, and then work jointly with Capgemini and Trintech to deploy and manage the new approach in Trintech’s Cadency platform, benefiting from this new, risk-enabled approach.”
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